Leased Office Condominium
For Sale
$252,000
3321 Toledo Terrace Unit 201, Hyattsville, MD 20782
Office unit in a professionally managed condo project, leased through December 2027, with ample surrounding parking.
Property Size1,208 SF
Price / SF$208.61
Days on Market97
Property Features for 3321 Toledo Terrace Unit 201
General Information
Standard status
Active
Size
1,208 SF
Building Details
Year Built
1991
Listing Agency:
RE/MAX Allegiance
Listed By:
Leah L Webster
(571) 217-4658
Source:
Hargreaveshomesales
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 28 at 10:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Allegiance
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit 201 is a leased office condominium within a professionally managed condominium project. The space is described as well kept and upgraded, and it remains under lease through December 2027. The seller is offering the unit for sale subject to the existing lease, with any tenant deposit and rent transferring to the new owner at settlement.
The condominium complex includes ample parking surrounding the entire property. The location is directly across from the Mall at Prince Georges, and neighboring units reflect a mix of businesses within the same condominium setting.
This offering presents an office condominium unit with maintained condition and an in-place lease, while allowing an owner-occupant or investor to take possession after the lease expires.
The condominium complex includes ample parking surrounding the entire property. The location is directly across from the Mall at Prince Georges, and neighboring units reflect a mix of businesses within the same condominium setting.
This offering presents an office condominium unit with maintained condition and an in-place lease, while allowing an owner-occupant or investor to take possession after the lease expires.
Key Highlights
- Office condominium unit in a professionally managed condo project
- Unit leased through December 2027 (tenant deposit and rent transfer to new owner at settlement)
- Year built: 1991
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,454
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,080
$369.1K
Cap Rate 7%
$263,629
$263.6K
Cap Rate 9%
$205,044
$205.0K
Market Conditions
NOI Build-Up for 1,208 SF
Gross rent
$29.7K $24.60/SF
− Vacancy
−$5.1K −$4.23/SF
EGI
$24.6K $20.37/SF
− OpEx
−$6.2K −$5.09/SF
NOI
$18.5K $15.28/SF
Area
Prince George's County, MD
Vacancy
17.20%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,080
Cap Rate 7%
$263,629
Cap Rate 9%
$205,044
Alternative Uses
Best Use
Office B
$263.6K
$230.7K – $307.6K
NOI $18,454 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$389.7K
$341.0K – $454.7K
NOI $27,279 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,174
Businesses Nearby
Explore this area
Business Placement
Demographics for 20782, MD
35,356
Population
13,312
Households
2.7
Avg Household Size
34
Median Age
37%
College-Educated
78%
High-School Grad
4.3 sq mi
ZIP Area
8,222
Density / Sq Mi
$88,226
Median Household Income
$42,862
Median Earnings
$1,789
Median Rent
$431,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office unit in a professionally managed condo project, leased through December 2027, with ample surrounding parking.
Where is this office unit located?
The property is located at 3321 Toledo Terrace Unit 201 Hyattsville, MD.
What is the asking price?
The asking price for this property is $252,000.
What are key features of this property?
This property features: Office condominium unit in a professionally managed condo project; Unit leased through December 2027 (tenant deposit and rent transfer to new owner at settlement); Year built: 1991
